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Meme stocks like GameStop are once again in the news, and here's why

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It looks like 2021 all over again recently, as a 'meme stocks' like GameStop and AMC saw sudden and rather drastic share price increases. Here's what to know about meme stocks, and what's behind this latest rally.

Remember GameStop?Back in 2021, the retailer's stock rose from $18 to a high of $380 at one point. The stock has been rather quiet since then, with per-share prices at around the $10 to $11 mark before rising to $64.83 on the morning of May 14, according to Google Finance.So, what's driving this so-called 'meme stock' to rise once again? Here's what we know.The BBC described GameStop as an American retail business that sells games, consoles, and other electronics.

Prices were swinging so sharply after the opening bell Monday, that trading in the stock was halted nine times in just over an hour.Other meme stocks from the pandemic era are moving just as radically. AMC jumped nearly 31% Tuesday, and its trading was halted 18 times by early afternoon.The AP noted that this recent meme stock rally is not as big.On Monday, investors pumped a net $15.8 million into GameStop, along with $37.5 million into AMC, according to data from Vanda Research.

 

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